Plymouth Industrial REIT Inc.

BOSTON--(BUSINESS WIRE)-- Plymouth Industrial REIT, Inc. (NYSE American: PLYM) (the 'Company') today announced the pricing of its underwritten registered public offering of 3,000,000 shares of its common stock at a public offering price of $17.50 per share. The Company granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock. The offering is expected to close on May 20, 2019, subject to the satisfaction of certain customary closing conditions.

Net proceeds of the offering to the Company are expected to be approximately $49.15 million, after deducting underwriting commissions and offering expenses payable by the Company. Plymouth intends to use the net proceeds from this offering to repay, in whole or in part, amounts outstanding under its secured revolving credit facility, to fund acquisitions and for general corporate purposes.

Barclays and KeyBanc Capital Markets acted as joint book-running managers for the offering, D.A. Davidson & Co. acted as lead manager for the offering and BB&T Capital Markets, National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., Sandler O'Neill + Partners, L.P. and Wedbush Securities Inc. acted as co-managers for the offering.

The shares were offered pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. A copy of the preliminary prospectus supplement relating to this offering was filed with the Securities and Exchange Commission on May 15, 2019, and a final prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained by contacting Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-888-603-5847 or by emailing [email protected].

The press release shall not constitute an offer to sell or a solicitation to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Plymouth

Plymouth Industrial REIT, Inc. is a vertically integrated and self-managed real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. The Company seeks to acquire properties that provide income and growth that enable the Company to leverage its real estate operating expertise to enhance shareholder value through active asset management, prudent property re-positioning and disciplined capital deployment.

Forward-Looking Statements

This press release includes 'forward-looking statements' that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements regarding the anticipated use of proceeds, constitute forward-looking statements. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statement, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as 'may,' 'plan,' 'seek,' 'will,' 'expect,' 'intend,' 'estimate,' 'anticipate,' 'believe' or 'continue' or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.